If you’re looking at getting a used Hyundai, you’re making a smart choice. There are great reasons to choose pre-owned vehicles over new ones, and Hyundai in particular offers some important advantages.
Smart Spending: The Economic Advantages of a Used Hyundai
Transferrable Warranty
One of the great things about Hyundai, which is famous for having “America’s best warranty,” is that their warranty is transferable. Even better, you don’t have to jump through any hoops to get that transfer. The warranty follows the VIN of the vehicle rather than the owner personally. Once the original owner moves on, and so long as the vehicle is still within its original 10-year/100,000-mile warranty, the subsequent buyer gets a five-year/60,000-mile warranty.
Lower Taxes
Taxes are assessed based on the value of the vehicle, so used vehicles tend to have lower tax. And here in Arkansas, taxes are even lower for used vehicles if you spend less than $10,000 on them.
Lower Insurance Rates
When you buy used, you will frequently benefit from a lower insurance rate. A study done in 2022 showed that the average insurance rate for a brand-new vehicle that year was $2,018 per year, while those driving a used vehicle from 2018 only paid $1,797.
Some of this will depend on the precise model you buy as well as what safety features it has, but the good news is that Hyundai puts a lot of great safety features on their vehicle vehicles!
Afford More Perks
When you’re looking at a brand-new car, you’ve probably had the experience of looking at the higher trims and realizing that you’d love to get some of those bells and whistles but simply can’t afford it. When you buy used, you can often afford to get a higher trim vehicle that still costs less than the base trim of a brand new one. This gives you access to all kinds of specialty features you might not otherwise be able to afford.
Don’t Absorb the Depreciation
Most of us know that the minute you drive a new car off the lot, it loses something like 10% of its value. In other words, even if you were to turn around immediately and take it back, it wouldn’t be worth what you paid for it. Early depreciation is ridiculously steep with motor vehicles, and those first two years are the worst.
However, once those first years are over, depreciation slows enormously. When you buy used, you let somebody else deal with the depreciation while you still get to use a car that has plenty of life and performance left in it.
Looking for a great new-to-you Hyundai? Come see the options at Rath Auto Resources of Fort Smith, AR.
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